Philippines eyes to
attract renewable energy investments through APEC hosting
LAPU-LAPU CITY, Cebu, Oct. 12 (PNA) -- With the goal to triple renewable
energy-based capacity by 2030, the Philippines will take advantage of its
Asia Pacific Economic Cooperation (APEC) hosting to promote renewable energy
Department of Energy (DOE) Undersecretary Loreta Ayson, in a press briefing
to kick off the 12th APEC Energy Ministers’ Meeting (EMM) here, said the
Philippines will convey to other APEC member economies the opportunities in
the renewable energy sector in the country.
She said the government has a demand for renewable energy investments as it
targets to increase the share of renewable energy in the country.
“We are pushing for renewable energy,” Ayson said.
She added that the DOE is working on for a fuel mix policy targeting for
energy resources diversification.
Under the policy, the government aims share of renewable energy to be
one-third of the total fuel mix, the DOE official mentioned.
She also noted that the government pushes to triple renewable energy
capacity by 2030 to 15,300 megawatts from 5,400-MW level in 2010.
Ayson said the country is on track of this target as the DOE has approved
682 service contracts with a total capacity of more than 13,000 MW.
“This means they should do predevelopment activities (and get) lot of
permits and clearances. At the point they proven that the resources are to
be economically, technically feasible, then we can concede,” she added.
Ayson said that this target is in line with APEC’s goal of doubling the
share of renewable energy in the region.
She mentioned that the government continues to promote investments in
renewable energy in the country through providing fiscal and non-fiscal
incentives and investment promotion activities.
“Through this APEC, we are also able to articulate to investors along this
area or in this field, so that they are also aware, for the richer economies
or developed economies, be informed that we need these investments for
energy,” she said. (PNA)